Ava Protocol, the event-driven EigenLayer Active Validated Service (AVS), has seen remarkable growth since its launch in July. The Web3 automation provider reported a significant increase in demand for its ‘super transactions’ solution ahead of the token launch.
Web3 Automation Provider sees a 900% increase in demand
Ava protocol reported a 900% increase in demand for its blockchain automation solution. The EigenLayer AVS provides a Web3 infrastructure to support cross-chain automation, enabling autonomous transaction construction and developers to quickly deploy dApps.
The protocol records $3 billion in reoccupied assets since launching on EigenLayer’s mainnet four months ago. Ava Protocol’s Total Value Locked (TVL) operator has reportedly reached $1.7 billion worth of Ethereum (ETH) within two weeks of launch.
Additionally, the report reveals that it has acquired more than 11,500 unique wallets and reached more than 1,000 daily automated transactions on the testnet.
The Web3 automation provider’s ‘supertransactions’ solution aims to provide ‘seamless, private and composable automation’ for every smart contract function, eliminating the need for developers to write code.
Ava Protocol simplifies blockchain for developers and non-technical users. With the automation provider’s solution, users have access to improved privacy, composability and significantly lower transaction costs.
The Future of the Blockchain Automation Landscape
Chris Li, the founder of Ava Protocol, noted how supertransactions are “transforming the landscape of blockchain automation” by helping makers build more efficiently and simplify the creation of Web3 applications:
By offering composable, no-code automation, we enable developers and makers to build more efficiently, whether they work in DeFi, NFTs, or RWAs. Our platform brings simplicity to complex processes and makes them accessible to non-technical users through intuitive tools such as our drag-and-drop interface or our AI-powered automation copilot.
The Web3 infrastructure provider recently partnered with Soneium, Sony’s Ethereum Layer 2 (L2) blockchain, to bring automation to the network through Soneium Spark’s Incubation program. The collaboration aims to “simplify” blockchain for Soneium developers and users with limited technical knowledge by executing transactions and smart contracts based on predefined conditions.
The partnership aims to enable creators and developers on Sony’s blockchain to monetize their work with intent-base, no-code automation, allowing them to tokenize Real-World Assets (RWA) and unlock fractional ownership in addition to new distribution methods.
Additionally, Ava Protocol also partners with other EigenLayer AVSs to offer its automation services, including fixed-rate loans dApp Term Finance, quantitative trading DEX Lhava, RWA ecosystem Zoth, and rewards withdrawal Hourglass.
Ava Protocol expects to release its token following recent development and collaborations in the coming months. The automation provider is looking to “cement” itself as a leading player in the sector by launching its cryptocurrency in the next two to three months.
At the time of writing, no further details about the token’s launch have been revealed.
